Constitutional money is PMs. Or 1:1, easy exchangable treasury notes backed by PMs.
Posted on 01/03/2024 6:19:57 AM PST by Kaiser8408a
Alarm!
In another episode of “Government Gone Wild” we see that total Federal debt just broke through the $34 trillion mark.
Some context: US debt increased by…
$1 trillion in the past 3 months $2 trillion in the past 6 months $4 trillion in the past 2 years $11 trillion in the past 4 years The Congressional Budget Office (CBO) is flashing the alarm.
Reckless spending in Washington DC by the administration and Congress is projected to drive US Debt to GDP to rise like the nuclear reactor in the film K-19: The Widowmaker.
Today the crypto market flash-crashed this morning with Bitcoin instantaneously puking from $45,500 to $41,000…
And Ethereum followed suite…
Over $550 million in crypto long positions were liquidated in the past 24 hours, per data from CoinGlass, including $104 million in Bitcoin longs in the past hour alone.
The extremely volatile cryptos are rallying. But still down on the day.
(Excerpt) Read more at confoundedinterest.net ...
The Bitcoin environment was all frothy based on pending ETF approvals. There were too many traders using margin. They got a lesson this morning about “selling the news.”
This is why Bitcoin is speculative at best. It is not an “investment” in the traditional sense of the word. I am a long term Bitcoin holder...this type of “whiplash” is pretty common and happens every few months to one degree or another.
They would do well to read Ayn Rand's Atlas Shrugged to learn the fundamentals.
How liquid is Bitcoin, really? I’ve always wondered if the price listed on the markets is actually what you can realistically get.
If Biden returns to the White House, reckless spending will continue.
If Trump returns to the White House, reckless spending will continue.
Replace either of those names with anyone except Rand Paul, and the result will be the same. Hyperinflation, here we come.
It’s not IF there will a crash, it’s WHEN there will be a crash.
Constitutional money is PMs. Or 1:1, easy exchangable treasury notes backed by PMs.
Well, there's a reason to hope for a crash...
Already recouped about a 1,000% return. It could drop down to $120…I would still be good.
But, thanks for your concern.
Our unfunded liabilities are $212 trillion. Just saying.
Here are the National Debt milestones for 2023-—
15 jun 2023 = 32.0
15 sep 2023 = 33.0
29 dec 2023 = 34.0
Ever since McCarthy agreed to let spending go rampant, the debt has increased $1 trillion every 90 days
This is why Bitcoin is speculative at best. It is not an “investment” in the traditional sense of the word.
Consider:
one billion seconds = 31 years
one trillion seconds = 31,000 years
Let that sync in a little and you’ll get a sense of magnitude here.
How do you reverse that out? What’s the total actual value of everything in the world?
It is 1000% better than giving woke MasterCard or Visa your $$$ to send
The Republican establishment is just as complicit in running up the debt.
“And Ethereum followed suite…”
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